Following IMF’s approval for bailout package for Pakistan, the Ministry of Finance on Friday predicted a further decrease in inflation in the country.
The Ministry released the updated Economic Outlook report for September which forecast inflation to remain between 8 to 9 percent in September and October.
According to the Economic Outlook report, inflation now entered the single digits in the country, and positive economic indicators are evident in the first two months of the current fiscal year.
Inflation in Pakistan significantly decreased, dropping from 38 percent to 11 percent within a year.
The report stated that industrial production and exports in major sectors increased, and there had also been a reduction in the current account deficit.
According to the Economic Outlook report, the exports in September are expected to remain between 2.5 to 3 billion dollars while remittances are projected to range from 2.7 billion to 3.2 billion dollars.
